14 companies to invest Rs 3,000 cr in Telangana's textile park

Hyderabad, Oct 22 : Fourteen companies have so far come forward to set up units with a total investment of over Rs 3,000 crore in the proposed Kakatiya Mega Textile Park in Telangana's Warangal district, an official statement said.

Chief Minister K. Chandrasekhar Rao will on Sunday formally lay the foundation stone of the project.

Coming up on 2,000 acres, the textile park -- claimed to be India's largest -- is expected to generate 66,000 jobs, including 22,000 directly. The project's first phase will come up on about 1,200 acres at Shayampet and Chintapalli villages.

Hours ahead of the foundation stone-laying ceremony, the state government signed Memorandums of Understanding (MoUs) in Warangal town, in the presence of Industries Minister K.T. Rama Rao with various companies and organisations in the textile sector.

Youngone Corporation of Korea will set up a unit with an investment of Rs 1,000 crore. Nandan Denim (Chiripal Group) will invest Rs 700 crore.

An advanced testing laboratory will be set up to ensure zero liquid discharge to control environmental pollution.

Telangana is one of the largest producers of long staple cotton at around 60 lakh bales per annum. The state was third in the country in cotton production during 2015-16.

The state is known for skilled textile workers but due to absence of industry, they migrate to other states for earning their livelihood, said an official statement.